EGM Results: Financial Statements Approved, Stock Consolidation and Name Change Passed… Drastic Reduction in Business Objectives, New Directors Appointed to Streamline Management

Approval of consolidated and separate financial statements: Consolidated operating profit of 4,078 million KRW but net loss of 41,682 million KRW; separate operating loss of 2,176 million KRW and net loss of 45,037 million KRW, continuing large losses. Auditor's opinion was 'unqualified'
Stock consolidation approved: Reduction in number of shares to increase per share value, interpreted as a move to boost stock price and maintain listing requirements
Company name change approved: Special resolution passed to change the corporate name, effective in the future
Drastic reduction in business objectives: Deleted 64 out of 104 existing business objectives, retaining only 40. Shedding IT, logistics, energy, cosmetics, stem cell, and other businesses to streamline operations and restructure
Appointment of new directors: Song Byung-kwon (CEO of KS Industry) and Kim Jung-il (Head of Strategy Planning at KS Industry) appointed as inside directors, indicating a management change following a change in the largest shareholder
Appointment of new auditor: Park Kwon-sik (Shinhan Accounting Corporation) appointed as non-executive auditor
Stock option grant approved: Resolution to grant stock options to employees passed, implying potential future dilution
Low shareholder participation: Average attendance based on voting shares around 37%, indicating decision-making driven by minority shareholders